Changing a work to make it meet a certain need. Or changing an idea to make it work for a situation.

An organization that keeps up with rapid change by acting like a chameleon. Employees have more decision power.

A document attached to clarify or modify a part of a contract.

The individuals lifestyle choices used to make a market profile. When added with demographic information buying behavior is determined. AKA attitudes, interests, and opinions. Refer to values adn life styles.

Organizing data about activies for analysis to help an organization.

The capacity of any activity. This includes time and cost drivers to name just two factors.

the voluntary relinquishment of all rights, title, or claim to property that rightfully belongs to the owner of the property. Stocks, bonds or mutual funds held in a brokerage account where the

1. Commerce: a reduction in the amount of a bill due to factors such as demurrage, overtime penalty, or rent. 2. Environment: to reduce or eliminate polluting or hazardous substances. This is

A simplified financial statement that a specific small firm is allowed to file. It is filed with the registrar of companies in the United Kingdom. Almost half of the active UK firms

When an employee and brokerage firm do business this is the resulting contract. It is done in the form of an outline that lists the rights of the firm. This agreement is

A systems analysis of items in order of importance that should be handled differently. This form of Pareto analysis in which the importance is listed by ‘A’ items are very important, ‘B’

The Pareto analysis as related to inventory control. There are three categories for the items in question. This is based on their revenue generation, turnover, or value. Typically this is done on

A reasoning methodology that uses common facts that are accepted as true and using them to build your argument.

An abnormal or abortive end to a computer program. This system crash is usually caused by a glitch or a memory overload.

1. Human Resource Management: A natural capacity of an individual to complete the task at hand. Refer to the definition of aptitude. 2. Law: The ability to agree and act upon a

A non-biological element that has an affect on the ecosystem. The opposite of a naturally occurring environmental element.

An error in the system or theft that can cause significant reduction in a company’s inventory. The loss exceeds the normal allowable level.

A large amount of inventory waste that may be caused process inefficiency. Eventually this leads to abnormal loss. Abnormal spoilage is another term for this. The same can be applied to computers.

While not an exact term ‘about’ signifies not more or less than 10 percent of the stipulated amount, quantity, or unit price. Refer to the definition of approximately.

This occurs when the economy produces goods at a higher rate than normal. The level of normalcy is decided by the gross domestic product or the GDP. This causes the market to